Sugarmade Inc (OTCMKTS: SGMD) is moving higher and trading almost at session’s high.
As of 11.02, SGMD stock gained by 19.05% at $0.0025. More than 81 million shares have been traded hands.
SGMD Issues News
Sugarmade Closes Lemon Glow Acquisition, Gaining Cannabis Property Capable of 64 Tons of Cannabis Flower Production Per Annum
- SGMD announced the signing of a Definitive Agreement (the “Agreement”) for its acquisition of Lemon Glow Company, Inc. (“Lemon Glow”) and all of its assets, interests, property, and rights, including 640 acres of real estate (the “Property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones.
- With the signing of the Agreement by all relevant parties, and the consummation of the transactions required by the Agreement, the acquisition of Lemon Glow is now closed and final.
Jimmy Chan, CEO of Sugarmade, commented, “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market. We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.”
|SHARES OUTSTANDING||4,137.09 M|
|SHARE FLOAT (%)||3,911.59 M (94.55%)|
|% HELD BY INSTITUTIONS||0.01|
Recent Stock Performance
|+/- EMA(20)||0.0025 (+0.00%)|
|+/- SMA(50)||0.0030 (-16.67%)|
|+/- SMA(200)||0.0026 (-3.85%)|
|CCI20||-95.2381||Sell||Chaikin Money Flow||0.0100||Neutral|
|MACD||-0.0005||Sell||Money Flow Index||25.0222||Buy|
|STOCH (14,3)||20.0000||OverSold||STOCH RSI||0.4413||Neutral|